USD/INR Technical Analysis: Hourly chart favors a minor pullback

USD/INR could be in for a minor pullback, having closed above 69.00 for the first time ever.
The hourly chart shows bearish price RSI divergence.
Acceptance below 69.00 would validate the preceding doji candle and would allow a minor drop to $68.70.

Omkar Godbole FXStreet Contributor

Hourly chart

Spot Rate: 69.02

Daily High: 69.04

Daily Low: 68.86

Trend: minor correction likely

Resistance

R1: 69.18 (record high)

R2: 70.00 (psychological hurdle)

Support

S1: $68.86 (support on hourly chart)

S2: $68.70 (50-hour moving average)

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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